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Economics Past Questions and Answers

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Waec Economics Questions

Question 86:

Industry can simply be defined as

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A Many firms producing different products
B A firm or firms producing similar goods and services
C Different firms producing different goods
D Different firms producing equal number of similar goods and services
E Many firms producing unidentical goods and services

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Question 87:

The reward of a debenture holder of a public company is a fixed rate of

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A Interest
B Return
C Dividend
D Rent
E Allowance

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Question 88:

The downward sloping of the Average Revenue curve of the monopolist indicates that he

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A Can control both output and price
B Can only break-even
C Can control either the output or the price, but not both
D Canâ€™t control anything
E Exploit the consumer

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Question 89:

which of the following hard currencies is usually used in the pricing of oil at the world market particularly by the Organization of Petroleum Exporting Countries (OPEC)? The

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A US dollar
B Japanese Yen
C Pound Sterling
D Deutschemark
E Naira

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Question 90:

What is devaluation? Under what conditions will devaluation improve a country's balance of payment position ?

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